WASHINGTON -- Reports of oil field fires in southern Iraq threatened global efforts to maintain stability in the world's energy supplies, said the Wall Street Journal on Friday. But oil traders, apparently expecting a swift U.S. victory, pushed oil prices lower, it said.
The fires sparked fears that Saddam Hussein had torched some of his country's oil wells. The extent of the damage wasn't known, but the destruction of numerous Iraqi wells could squeeze global oil supplies in the long term, meaning oil and gasoline prices could surge higher again.
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